Bumpy Road Won't Stop Sanofi (France) (SAN.PA)'s Push Into Emerging Markets
10/2/2013 8:09:57 AM
French drugmaker Sanofi SA will not be deterred from expanding in emerging markets through acquisitions despite government crackdowns on pricing and closer scrutiny of western pharmaceutical companies' business practices, its CEO said. Multinational drugmakers such as Pfizer Inc, Sanofi and AstraZeneca PLC have depended on rising demand in emerging markets as sales in the developed economies slow due to a wave of patent expirations on top-selling drugs. "Emerging markets has six billion people and I think the marketplace will be bumpy on occasions, but the need for healthcare is undeniable," Sanofi Chief Executive Chris Viehbacher told reporters in Mumbai on Monday.
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